New U.S. tariffs start at 10%, Trump administration working to hike them to 15%
BNN Bloomberg
The United States began collecting a temporary new 10 per cent global import tariff on Tuesday but the Trump administration was working to increase it to 15 per cent, a White House official said, sowing confusion over U.S. President Donald Trump’s tariff policies in the wake of last week’s Supreme Court defeat.
Trump initially signed an order on Friday for a 10 per cent tariff to last 150 days to replace broad duties under an emergency law that were struck down by the Supreme Court, but on Saturday, he said he would increase the rate to 15 per cent.
But on Monday night before the midnight start of collections, the U.S. Customs and Border Protection agency notified shippers that the rate would be 10 per cent.
The White House official told Reuters that Trump has had “no change of heart” in his desire for a 15 per cent tariff under Section 122 of the Trade Act of 1974, but offered no details on the timing for that increase.
As of Monday, Trump had not signed a formal presidential order for the increase to 15 per cent and CBP can only act on published presidential executive orders and proclamations.
CBP’s notice referred to his Friday order, saying that aside from products covered by exemptions, imports would “be subject to an additional ad valorem rate of 10 per cent.”
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The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
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The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
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